South Korean police have acknowledged that Bitcoin seized in 2021 has gone missing from a cold wallet, according to local media outlet The Dong-A Ilbo. Authorities admitted the loss this week, confirming that the funds were originally confiscated during a criminal investigation.
The report states that the Bitcoin had been stored in a cold wallet after being seized as part of a probe in 2021. The disappearance raises questions about internal controls and custody procedures for digital assets held by law enforcement. Officials indicated that an investigation is underway to determine how the funds were lost and whether negligence or misconduct played a role. The case directly affects the integrity of asset management within the police force and could have implications for future crypto seizure protocols.
Police said they are reviewing their digital asset storage systems and accountability measures. Further updates are expected as authorities clarify the circumstances surrounding the missing Bitcoin and assess potential recovery options.
Source: The Dong-A Ilbo
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